I am the registered owner of a freehold property in Ardleigh Green but still pay rent, why is this and what is this?
It is rare for properties in Ardleigh Green and has limited impact for conveyancing in Ardleigh Green but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
My brother-in-law has suggested I instruct a conveyancing solicitor in Ardleigh Green. I I am struggling to find out whether they are accepted on the Santander conveyancing panel. Could you advise?
You should phone the conveyancer and ask them if they can act for the lender. Otherwise please get in touch with Santander who may be able to help.
I have been on the look out for a flat up to £245,000 and identified one round the corner in Ardleigh Green I like with amenity areas and railway links nearby, however it's only got 61 remaining years left on the lease. There is not much else in Ardleigh Green in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a home loan the shortness of the lease will likely be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
How easy is it to change firm as I have to select a firm on the National Westminster Bank conveyancing panel. I hired a high street conveyancing solicitor in Ardleigh Green round the corner but the firm is not approved by National Westminster Bank
We will our best to assist in finding you a conveyancing solicitor in Ardleigh Green on the National Westminster Bank panel. Please note that the property lawyers that we on the directory do not pay us commission if you instruct them and are under regulation of the Solicitors Regulation Authority who regulate all conveyancing solicitors in Ardleigh Green. In utilising the find a conveyancing solicitor tool on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Ardleigh Green.
I am a negotiator for a long established estate agent office in Ardleigh Green where we see a number of flat sales derailed as a result of short leases. I have received contradictory information from local Ardleigh Green conveyancing solicitors. Please can you confirm whether the owner of a flat can initiate the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I have had difficulty in trying to purchase the freehold in Ardleigh Green. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We are happy to put you in touch with a Ardleigh Green conveyancing firm who can help.
An example of a Lease Extension decision for a Ardleigh Green property is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The unexpired term as at the valuation date was 57.5 years.